Earnings Release • Apr 12, 2012
Earnings Release
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Corporate | 12 April 2012 10:07
JSC Open Investments: announces Q1 2012 sales results
JSC Open Investments / Key word(s): Sales Result/Sales Result
12.04.2012 / 10:07
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA
JSC OPIN
ANNOUNCES Q1 2012 SALES RESULTS IN KEY PROJECTS
(12 April 2012) Joint Stock Company ‘Open Investments’ (JSC ‘OPIN’ or the ‘Company’) (BLOOMBERG: MICEX – OPIN.RM), the first publicly traded real estate developer in Russia, today announces its Q1 2012 sales results in its key development projects Pavlovo 2, Pestovo and Martemyanovo.
Highlights
– For the first quarter 2012 the Company signed 50 contracts for 6.8 thousand sq. m of residential real estate and 560 sotkas (5.6 hectares) of land all totalling US$25.3 million, which represented an increase of US$3.9 million or 18% in comparison with the same period last year. Out of total contracted revenue Pavlovo 2 brought US$13.5 million, Pestovo US$7.0 million and Martemyanovo US$4.8 million.
– During the first three months the Company signed 3 mortgage contracts totalling US$0.8 million, which represented 3% of Q1 2012 deals.
– Total cash collected was US$21.1 million.
Units
| Project | Total unsold as of 31.03.2012 | Total signed in 3m 2012 | Total signed in 3m 2011 | % change 2012/2011 |
| Pavlovo 2 | 128 | 32 | 28 | +14% |
| Pestovo | 137 | 8 | 12 | -42% |
| Martemyanovo | 83 | 10 | 13 | -23% |
| TOTAL | 348 | 50 | 53 | -8% |
Contracted Revenue, US$’000
| Project | Revenue for 3m 2012 | Revenue for 3m 2011 | % change in 3m 2012/3m 2011 |
| Pavlovo 2 | 13,457 | 8,929 | +51% |
| Pestovo | 6,984 | 6,739 | +4% |
| Martemyanovo | 4,820 | 5,707 | -16% |
| TOTAL | 25,261 | 21,376 | +18% |
Total cash collected
| Current projects | Collected in Q1 2012 | Including Contracted in 2012 |
| Pavlovo 2 | 14,641 | 10,971 |
| Pestovo | 2,743 | 2,312 |
| Martemyanovo | 3,665 | 2,306 |
| TOTAL | 21,050 | 15,589 |
For further information, please contact:
Investors:
Stanislav Joukov +7 495 363 2211 ext. 2388
Media:
Anna Rogova +7 495 363 2211 ext. 2513
About OPIN
Established in 2002, JSC OPIN is one of the leading real estate development companies operating in Russia.
OPIN is focused on the development of master-planned multi-format residential communities and the operation of high-quality commercial properties in Moscow and the Moscow Region. Having completed nearly 200,000 sq. m of commercial space and 500 ha of developed master-planned communities, today OPIN is a well-recognised brand in the domestic market, known for the market-leading quality of the projects it delivers. Through its property expertise and successful track record, the Company’s strategic goal is to become a platform for the consolidation of assets in the real estate industry in Russia.
The Company’s majority shareholder is ONEXIM Holdings Ltd, a major private investment group in the CIS region with a diversified portfolio of assets in mining, real estate, financial services, media, energy production and high-tech.
In November 2004 OPIN was successfully admitted to the RTS stock exchange and since then has carried out six secondary public offerings, raising nearly US$2 billion.
Further details can be found on the OPIN website at www.opin.ru
End of Corporate News
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| Language: | English |
| Company: | JSC Open Investments |
| Tverskoy blvr, 13/1 | |
| 123104 Moscow | |
| Russia | |
| Phone: | + 7 495 363 22 11 |
| E-mail: | [email protected] |
| Internet: | www.opin.ru |
| ISIN: | RU000A0DJ9B4 |
| End of News | EquityStory.RS, LLC News-Service |
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